微观经济学第五版课件：chapter_6

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Chapter 6
2 3
4
5 6
7 8
9
10 Labor per Month
Slide 19
Production with One Variable Input (Labor)
Outpu t per Month Observations: Left of E: MP > AP & AP is increasing Right of E: MP < AP & AP is decreasing E: MP = AP & AP is at its maximum Marginal Product

Chapter 6
Slide 13
Isoquants
The Short Run versus the Long Run

Long-run

Amount of time needed to make all production inputs variable.
Chapter 6
Slide 14
Production with One Variable Input (Labor)
Chapter 6
Production
Topics to be Discussed

The Technology of Production Isoquants Production with One Variable Input (Labor) Production with Two Variable Inputs
Capital per year 5 4 3 2 Q3 = 90 1 1
Chapter 6 The isoquants are derived from the production function for output of of 55, 75, and 90.
E
The Isoquant Map
Chapter 6
Slide 8
Isoquants

Isoquants
Curves
showing all possible combinations of inputs that yield the same output
Chapter 6
Slide 9
Production Function for Food
the highest output that a firm can produce for every specified combination of inputs given the state of technology.

Shows what is technically feasible when the firm operates efficiently.

When the labor input is large, MP decreases due to inefficiencies.
Chapter 6
Slide 24
Production with One Variable Input (Labor)
The Law of Diminishing Marginal Returns
How
Characteristics Issues
Chapter 6
of business regulation
Slide 3
The Technology of Production

The Production Process

Combining inputs or factors of production to achieve an output
Chapter 6
Slide 23
Production with One Variable Input (Labor)
The Law of Diminishing Marginal Returns

When the labor input is small, MP increases due to specialization.
Chapter 6
Slide 16
Production with One Variable Input (Labor)

Observations: 2) The average product of labor (AP), or output per worker, increases and then decreases.
Output Q MP L Labor Input L
Chapter 6 Slide 18
Production with One Variable Input (Labor)
Output per Month
112
D
C 60
Total Product
B A
A: slope of tangent = MP (20) B: slope of OB = AP (20) C: slope of OC= MP & AP
Output per Month 112 C Output per Month
D
30
E
60 A
B
20 10
Labor per Month
0 1 2 3 4 5 6 7 8 9 10
0 1 2 3 4 5 6 7 8 9 10 per Month
Labor
Production with One Variable Input (Labor)
The Law of Diminishing Marginal Returns

As the use of an input increases in equal increments, a point will be reached at which the resulting additions to output decreases (i.e. MP declines).
A
B
C
D
Q2 = 75 Q1 = 55 4 5
Labor per year
Slide 11
2
3
Isoquants
Input Flexibility

The isoquants emphasize how different input combinations can be used to produce the same output. This information allows the producer to respond efficiently to changes in the markets for inputs.
Output Q AP Labor Input L
Chapter 6 Slide 17
Production with One Variable Input (Labor)

Observations: 3) The marginal product of labor (MP), or output of the additional worker, increases rapidly initially and then decreases and becomes negative..

Can be used for long-run decisions to evaluate the trade-offs of different plant configurations Assumes the quality of the variable input is constant
Labor Input Capital Input 1 1 2 20 40 2 40 60 3 55 75 4 65 85 5 75 90
3
4 5
55
65 75
75
85 90
90
100 105
100
110 115
105
115 120
Chapter 6
Slide 10
Production with Two Variable Inputs (L,K)
Amount of Labor (L) 0 1 Amount Total of Capital (K) Output (Q) 10 10 0 10 Average Product --10 Marginal Product --10
2
3 4 5 6 7 8
10
10 10 10 10 10 10
30
60 80 95 108 112 112

When Mห้องสมุดไป่ตู้ = AP, AP is at its maximum
Chapter 6
Slide 21
Production with One Variable Input (Labor)
AP = slope of line from origin to a point on TP, lines b, & c. MP = slope of a tangent to any point on the TP line, lines a & c.

Chapter 6
Slide 12
Isoquants
The Short Run versus the Long Run

Short-run:

Period of time in which quantities of one or more production factors cannot be changed. These inputs are called fixed inputs.